On Tuesday, the focus will be on Australia’s monetary policy meeting minutes, which are expected to provide further insight into the surprise decision to hold rates.
With the Fed’s blackout period starting this weekend ahead of the July 30 FOMC meeting, Powell is unlikely to comment on monetary policy, but markets may still pay close attention to his remarks.
Finally, on Friday, Japan will release the Tokyo core CPI y/y, the U.K. will publish retail sales m/m, and in the U.S., attention will turn to durable goods orders m/m.
Despite the modest uptick, overall sales remained below pre-pandemic levels, constrained by high mortgage rates and ongoing affordability challenges. The median home price rose 1.3% year-over-year to $422,800.
At this week's meeting, the ECB is expected to keep the deposit rate unchanged at 2.0%. This decision is supported by June inflation data, which showed headline inflation at 2.0%, core inflation steady at 2.3%, and services inflation rising to 3.3%.
Uncertainty surrounding the potential for a 30% U.S. tariff on EU goods proposed by President Trump adds to the overall risk backdrop. However, it is unlikely to prompt any immediate action from the ECB.
Given that recent inflation readings have consistently exceeded the Bank of Japan’s projections, the upcoming data will be closely watched. A stronger-than-expected print would support the case for the BoJ to revise its FY2025 inflation forecast upward, reinforcing expectations that policy normalization remains a possibility.
In the U.S., the consensus for core durable goods orders m/m is 0.0%, down from the prior 0.5%, while headline durable goods orders m/m are expected to fall by 10.3%, following a 16.4% surge in May.
Looking ahead, the outlook for capital spending remains subdued. Persistent trade uncertainty, rising input costs, and sluggish growth expectations are prompting firms to pull back on hiring and investment. Wells Fargo forecasts an 11% decline in durable goods orders for June, with business equipment investment likely to contract in the second half of the year.
Wish you all a profitable trading week.
This article was written by Gina Constantin at investinglive.com.Hence then, the article about market outlook for the week of 21st 25th july was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( Market Outlook for the week of 21st-25th July )
Also on site :